Lyric discussion by 6Seasons&1Movie 

This is a tough one. I read it as a song about unrequited love.

The speaker is hopelessly in love with their partner, but their partner doesn't reciprocate at the same level and is unwilling to commit to a long term relationship.

The speaker vascillates between wanting to end it cold turkey to stop their painful longing vs wanting to cling to and draw our the imperfect and fated relationship he (or she) has for as long as possible. Unable to decide between the unworkable status quo and fear of losing his partner, the speaker is begging the partner to make the decision (with a glimmer of hope the partner will realize they belong together).

Stanza 1: just end it ("Show me the door/I cannot stand/To wait anymore")

S2: let me live in the fantasy that we could be together ("Give me some more/Time in a dream")

S3: I can't keep pouring my life into a doomed relationship. But, you know, we could be together... ("I'm tired of the wait and see's/...But hours turn into days/...And be here to recognize/There's another way")

S4: I recognize this relationship is harmful but i love you more than the pain; let me have the fantasy of us together for as long as i can. ("I can't count the reasons I should stay/...Oh I love you more than words can say")

The death motifs somewhat clash with my interpretation. I think, at a general level, they reflect how depressed the speaker is about where things are at. More specifically, the two lines offer different visions of the future.

One, how they could grow old together if the partner committed ("We can be old and cold and dead on the sea")

The other, when the speaker tries to convince himself the status quo works, argues that life is fleeting and one should live for the moment not the long-term ("We could be roped up, tied up/Dead in a year")

Some lines could be read to have hints of violence or suicide (death lines + "But hours turn into days/So watch what you throw away"), but I see the main themes being the desperate push and pull emotions of love and sadness in a one-sided relationship.

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